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Accounting Mcqs

Submitted By :Ali Uppal


Submitted By :Ali Uppal


Submitted By :Ali Uppal


Which of these is not an operating income?

  • (A)  Income from sale of trading goods
  • (B)  Bad debts recovered
  • (C)  Interest on FDs
  • (D)  None
Submitted By :Ali Uppal


Carriage on goods purchased is shown in:___________?

  • (A)  Profit and Loss A/c
  • (B)  Capitalized with work in progress
  • (C)  Trading A/c
  • (D)  Shown in Balance Sheet
Submitted By :Ali Uppal


Submitted By :Ali Uppal


Which of these are not required in a promissory note?

  • (A)  Acceptance
  • (B)  Unconditional promise to pay
  • (C)  Properly stamped
  • (D)  Payment to be made legal currency
Submitted By :Ali Uppal


A foreign bill of exchange is generally drawn up in___________?

  • (A)  Triplicate
  • (B)  Duplicate
  • (C)  Single
  • (D)  Quadruplicate
Submitted By :Ali Uppal


Which of these is not an essential feature of a bill of exchange?

  • (A)  Unconditional
  • (B)  Certainty of amount
  • (C)  In writing
  • (D)  Amount to be paid in foreign currency
Submitted By :Ali Uppal


Negotiable Instrument Act was enacted in_________?

  • (A)  1981
  • (B)  1881
  • (C)  1871
  • (D)  2001
Submitted By :Ali Uppal